Weekly Average Momentum Index (AMI) rankings of SSPP, nSSPP, SELECT, ETF have been posted at: http://yechen.pan.googlepages.com/
The 4th-quarter earning report season started this past week. With all the gloom and doom earning announcements and outlooks for the year from different companies so far, the stock market took a beating. The S&P 500 index lost 4.5% and the NASDAQ composite went down 2.7% for the week. However, the indexes are still above their low in November, 2008 and the STO's are still heading up albeit below 50. Next week, more companies will report their earnings. If the earnings are better than expected, maybe we will see a substantial relief rally since investors already expected a bad quarter. Otherwise, we will see a retest of the November low.
No comments:
Post a Comment